NEW YORK (TheStreet) - On Mad Money, one of the reasons we consistently talk about "buy and homework" versus "buy and hold" is because companies change, the industry dynamics change, and the macro environment changes. If you want to understand why Disney (DIS) is a stock you can buy for kids and hold over the long term, it is precisely because the company, under the leadership of Bob Iger, is changing in just the right ways and staying ahead of the curve by continuing to remain diversified and growth-oriented with strong, defensive brands.

Frozen is all about the continued success of Pixar (not to mention Tangled or Wreck It Ralph success). On the conference call, CEO Iger said that Marvel is just getting STARTED. And of course there is upside for Lucas (with the great Star Wars cast just announced). This is all separate from the core Disney live motion pictures like Maleficent (Angelina Jolie!) along with Cinderella and Tomorrowland. And, Disney can play China upside (China movie market has tripled in the last four years and will be #1 in the world by 2020).

Of course, given Disney's size, it benefits from the flow-through of each brand to its consumer products division and beyond.

Plus, with the economy rebounding--not to mention INNOVATION--parks are a stand out. And while cable networks missed slightly, ESPN is a core franchise.

Yes, Disney is trading at 20x P/E but its growing faster than ever with superb management. It's a long-term winner. And it's certainly not the same company it was 50 years ago or even 10 years ago.

The NCAA's signature 'March Madness' basketball tournament tips-off Thursday, but is a three-week jamboree that generate billions for everyone apart from the players really the fairest way to manage college sports? It might be.